Clint,
All I can tell you is what I've experienced the past 2 years (this coming May).
I had DCS and TMCC. Didn't have a lot of problems but had a few none the less. Signal loss, wiring issues, minor PS2 install issues (chuff tapes), stalling engines.
I've always been intrigued by remote control, flew RC planes back in the 70s. I thought how great it would be to be able to run O-scale trains using battery-power, remote-control.
The late Ed Reutling did this using off the shelf RC equipment, but the components he had were hard to find or kept changing/progressing.
Then I found Tony Walsham's RCS Australia website and found I could get what I wanted to convert to BPRC. Tony sold Deltang UK components. It meant pulling out the command systems I already had, but it was what I wanted. In addition, BlueRail Trains started offering the BlueHorse bluetooth board. Tony has stopped carrying the Rx I use, but I found more at RC Trains UK. They come pre-wired and they get them to the U.S. quickly.
If a person was to start from scratch, BPRC would be a good way to go, no big power supply ($$$), no wiring ($$$), no cleaning track, no signal loss thru the rails. I have yet to lose signals between Tx and Rx. As of present you do have to install them yourself, but it's no harder than installing PS2 or ERR components and there's maybe a dozen pages of instructions that you may have to read.
I have converted 14 engines (13 "O" and 1 "G") to BPRC, I have only 6 engines left with DCS or TMCC. ZERO problems with BPRC.
Not only that, I pulled up the middle rail, removed the center rollers, and turned by 072 curved layout into 2-rail, albeit with hi-rail rails.
For the past month or so I've been building 2-rail #6 turnouts and have plans to tear down my converted layout and build a larger (12x30 vice 12x12), 2-rail layout using these turnouts and Micro-Engineering track. So far I have 4 turnouts built (code 148 ME rail) and both 2-rail AND 3-rail trucks run thru them fine. I'll keep my engines using the hi-rail flanged wheels, but most likely replaced all freight car wheels with 2-rail type.
There are drawbacks if you want to try having the same features in BPRC as you do in DCS/TMCC. I don't use smoke anyway, but I doubt the current boards would support the amperage. Sound is in its infancy, but I expect that to grow soon.
If a person wanted to try this out, I would start with an old, conventional engine or a shelf queen and get the necessary components (Tx, Rx, battery, wiring, on/off switch, charging jack, charger, LEDs) and have a go. I run only 1 engine at a time, but more than 1 is possible, just "bind"/link the engine to the Tx. Going my way (replacing existing DCS/TMCC with BPRC) is not cheap, although you can most likely sell off you used components like I did to recoup some money.
I don't miss the sounds as much as I thought I would, the train going around the layout makes plenty noise on it's own. I wouldn't mind having synchronized steam chuff or diesel engine sounds, but I can live without the others.
The 3 engines with the BlueRail boards installed have sounds, and adding the Gems speaker to the E7 enhances the sounds a lot.
BPRC is not for everyone, just like Conventional, DCC, DCS, TMCC, and Legacy are not for everyone, but it makes the trains move just like the rest.